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Insuring the Not So Usual - Artwork/Antiques/Heirlooms/Collectibles Aberdeen SD

Some insurance companies don't have much experience in the realm of art, antiques or collectibles. It may be worth finding an insurance broker who has some experience in this area.

DakotaQuote Insurance
(605) 413-4133
4300 S Louise Ave STE 101
Sioux Falls, SD
Alternate Phone Number
605-413-4133
Services
Term Life Insurance, Whole Life Insurance, Universal Life Insurance

Hilgemann Bob Insurance Agency Inc
(605) 226-3651
1023 6th Ave SE
Aberdeen, SD
 
Karlen & Associates Inc
(605) 225-9011
1601 6th Ave SE
Aberdeen, SD
 
Farmers Union Insurance Claims Vehicle Appraiser
(605) 229-0020
Aberdeen, SD
 
New York Life Insurance Co-Lorenz Cheryl L
(605) 225-4440
405 8th Ave NW Ste 203
Aberdeen, SD
 
Adamson-Maxwell Insurance
(605) 343-3810
916 Main Street, Suite 101
Rapid City, SD
Alternate Phone Number
605-343-3810
Services
Auto, Home, Life, Commerical, Business Insurance
Prices and/or Promotions
"Free Policy Reviews and Free Quotes"

Farm Bureau Financial Services
(605) 226-2729
38496 US Highway 12
Aberdeen, SD
 
Deer Joe P
(605) 725-3300
2201 6th Ave SE
Aberdeen, SD
 
Drageset Jamie Insurance
(605) 725-0035
521 S Boyd St
Aberdeen, SD
 
Squire-Lussem Agency
(605) 225-6350
902 S Main St
Aberdeen, SD
 

Insuring the Not So Usual - Artwork/Antiques/Heirlooms/Collectibles

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Insuring the Not So Usual

Do you own artwork? Do you have fine antiques? Family heirlooms? What about collectibles? You may find that your current insurance policy doesn't really allow for such unique and valuable items. In fact, you will likely need special riders that will provide you with additional insurance coverage. You'll also have to do that for each treasured item individually.

Why would insurance companies require these belongings to be inventoried and insured individually? In reality, it's because most insurance companies work in the realm of statistics. They deal on a daily basis with the average. That's why most companies take your word for it when you submit a list of belongings to them in your claim. Why? Because insurance companies have a good idea of what kinds of things are owned by the average middle class family. They may even provide you with a checklist, so that you can better provide them with an inventory of your belongings, because they know what to expect to find in each room of a house.

However, when you begin to get into collecting unusual items or very expensive items, your insurance company can no longer take your word for it. They will need these items individually inventoried, preferably independently appraised, and since these items will be outside of the realm of normal, they will sometimes need to be individually insured.

Can your current insurance company give you the insurance you need? This is an excellent question. Some insurance companies do not have much experience in the realm of art, antiques or collectibles. In this case, it may be worth your while to find an insurance broker who has some experience in this area. Such a person may be able to help you find the right insurance company. If you are collecting art, your favorite art magazines can be a good resource when looking for such service providers. You should look out for companies with an established reputation as well as a successful and dedicated claims department. That claims department will be very important to you, if you ever need to make a claim.

While individual insurance for your treasures may be required, if your artworks are individually worth less than $10,000 each, you can go for a blanket policy. Under such an arrangement, you will not have to list all the items involved. However, the most you can claim for any single artwork will be $10,000. So, you will have to keep in mind the value of your items.

And you need to be ready fo...

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